Stonegate Investment Group LLC Boosts Position in Apollo Global Management Inc. (NYSE:APO)

Stonegate Investment Group LLC boosted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 10.3% in the first quarter, Holdings Channel reports. The fund owned 5,720 shares of the financial services provider’s stock after purchasing an additional 533 shares during the quarter. Stonegate Investment Group LLC’s holdings in Apollo Global Management were worth $783,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares during the last quarter. Geode Capital Management LLC increased its position in Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Northern Trust Corp increased its position in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer now directly owns 373,164 shares of the company’s stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares of the company’s stock, valued at $69,257,178.06. The trade was a 4,331.92% increase in their position. The disclosure for this purchase can be found here. 8.20% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

NYSE APO opened at $134.61 on Friday. The firm has a market cap of $76.93 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.59. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $133.31 and a 200-day moving average price of $147.16. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same period in the previous year, the company posted $1.72 earnings per share. Apollo Global Management’s quarterly revenue was down 21.2% on a year-over-year basis. As a group, equities research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.52%. Apollo Global Management’s dividend payout ratio is presently 35.73%.

Analyst Ratings Changes

A number of analysts recently commented on APO shares. Morgan Stanley reduced their price objective on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Cowen reissued a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. Barclays boosted their price target on Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, May 5th. UBS Group cut their price target on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Raymond James Financial started coverage on Apollo Global Management in a report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.